Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $597,000 autocallable index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., Feb. 24 – GS Finance Corp. priced $597,000 of 0% autocallable index-linked notes due April 25, 2024 tied to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on the April 29, 2022 call observation date, the notes will be called at $1,090 per $1,000 note.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus twice the gain of the least performing index.
If the worst performer finishes above 85% of its initial level, the payout will be par.
If any index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $597,000
|
| Maturity: | April 25, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus twice the gain of the least performing index; if worst performer finishes above 85% of initial level, par; if any index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer
|
| Call: | If each index closes at or above initial level on the April 29, 2022 observation date, notes will be called at $1,090 per note
|
| Initial index levels: | 4,134.98 for S&P, 13,762.36 for Nasdaq, 2,232.614 for Russell
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | April 22, 2021
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| Settlement date: | April 27, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057FZ80
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